South Africa Cosmetics and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

South Africa Cosmetics and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The South African cosmetics and personal care products market is projected to register a CAGR of 6.62% during the forecast period (2021-2026).

The South African cosmetics and personal care market was severely hit by the COVID-19 pandemic. Especially, the color cosmetics and fragrances witnessed a major downfall during the pandemic, as these were not classified as “essential” by the South African government. Consequently, during the height of the COVID-19 lockdown, these companies and brands were forced to stop all production. Nonetheless, the production and retail of personal hygiene, skincare, hair care, deodorants, and sanitary items continued. However, the reduced workforce and output due to strict health and safety policies also hampered the continued supply to the market.

The South African cosmetics industry recorded good growth in 2018, buoyed by the increased focus on grooming and the growing presence of regional brands. The weakening of the local currency and rising economic uncertainty remain the major concerns for the local market.

Moreover, a significant increase in the demand for men’s grooming products supported by the preference for multifunctional products is driving the market growth in the region. Additionally, natural and organic personal care and cosmetics products witnessed an increase in consumer preference. These products are positioned at a high quality and premium products and draw a wide range of consumers.

Some of the major companies operating in the country are L'Oréal SA, Estée Lauder Inc., Procter & Gamble Co., and other companies. These companies are adopting various strategies, such as product launches, acquisitions, etc., and propelling the online distribution channel for the sales of their products.

Key Market TrendsIncreasing Consumer Awareness About Skin Care Products

There is a growing focus on improving living standards among South African consumers, driven by a surge in internet access, with the number of the country's internet users more than doubling during the review period. Social media is gaining more traction, with consumers’ inclination toward global fashion and beauty trends. The grooming trend is furthermore being aided by an increase in net spending in each household for skin care products in South Africa. This increasing spending trend is allowing consumers not only to get benefited by spending on skin care but also increasingly associating an attractive appearance with career success and professionalism.

The rising consumer awareness supported by the surging purchasing power of the local consumers is driving the demand for skin care products made of natural ingredients, thereby giving rise to local manufacturers, like Lulu & Marula, that produce a wide range of skincare products like cleansing bar, body balm, facial kit, and others, all made of natural ingredients.

Increasing Demand for Anti-aging Cosmetics Products

The strong desire among individuals to retain a youthful appearance has been a major factor supporting the South African skincare industry. The trend is driving demand for anti-aging products in the country. Nearly 23% of makeup products consumed in South Africa are natural cosmetics and anti-aging products, majorly driven by the 45-54 age group. With rapid aging in the country, the proportion of the population aged 60 years or older is projected to double from 7.7% to 15.4% over the next 35 years. The rapidly aging demographics of the country led to robust demand for anti-aging products that overcome wrinkles, age spots, dry skin, uneven skin tone, and hair damages, creating room for innovations in the cosmetics industry. In the long turn, longer life spans can translate into a significant boom for the cosmetic products market in South Africa.

Competitive Landscape

The South African cosmetics and personal care products market is dominated by Unilever, followed by Procter & Gamble, Avon, and other major players. Unilever continues to reign over the market, with a combination of new product launches and aggressive expansion strategies focused on gaining traction in new territories. Brand value plays a major role in driving the sales of cosmetic products, as consumers develop an affinity toward cosmetic brands and beauty products over a period.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.